Germany confirms $44.9 billion surplus and GDP growth in 2017

The German government, the country's 16 states and its communities posted a budget surplus of €36.6 billion ($44.9 billion) in 2017, the National Statistics Office (Destatis) reported Friday, slightly revising an earlier estimate of €38.4 billion.

The positive result last year was again made possible by full order books and record high employment as well as by the European Central Bank's ultra-loose monetary policy and its low-interest policy in particular.

Strong outbound shipments

Destatis officials confirmed that Germany's economy grew by 0.6 percent in the final quarter of last year. The uptick was mainly attributable to a 2.7-percent increase in exports, compared with a 2-percent rise in inbound shipments.